Benetton continues to invest

Italian fashion retailer Benetton confirmed a decrease of -2,8 per cent to €2,050 million, compared to the €2,128 million achieved in 2008. Taking the downturn of the international economy into account, the Company replied effectively to the changing scenarios in its individual markets around the world.

The Textile segment increased revenues by €8 million on the previous year, for a total of €102 million (+8 per cent), while Apparel segment sales were €1,948 million down €85 million (-3 per cent) against 2008. During the fourth quarter of 2009, direct sales on a like-for-like basis confirmed the trend of the preceding nine months, although there was an improvement in December, which slightly outperformed the same month in 2008.

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Zooming in on the revenues per geographical area, Europe showed a reduction of 4 per cent. In established markets such as Italy, the trend was satisfactory The Italian market, the largest of the Group, performed better than other established markets. Emerging markets overall went up with 15 per cent, especially Asia received positive results. The Indian market increased with nearly 50 per cent, driven by new openings in major cities and by a positive like-for-like performance at directly owned stores. In China, Benetton is reaching completion of its profile refocus, supported by new store openings in prime locations and areas with growth potential.

For the upcoming year Benetton is looking to continue to invest in store restyling, brand support and improvement of the sales network. The Company will focus on boosting efficiency and containing costs. Further reduction of general expenses and structural costs will also remain a priority.

Image: Benetton